Temporary high balance - would lump sum settlement from insurers count?

lassfarfromhome

Bigwheels1111 said:

I never put more than 80k per account.
FSCS covers 85k, great.
At 5% £4250of interest would not be covered and could be lost.
Why NS&I, their rates are not very good.
Are you working, or on benefits etc. ie any income at all.
If no income you can get £18,570 of interest tax free as such.
Any income you get would need to be deducted from total above.

I went for 5 year fixed rate accounts to provide me with an income.
Every year.
It has bit me on the bum as it turns out.
Lost my partner, place to live, income etc.
Not able to access the funds for 3 years.

So be careful what you do.

Sorry to hear this - sounds tough.
This is going to be very short term for me - just until I can get proper advice on investing the money.  And I won't be locking it away

FIREDreamer

Have you looked at Hargreaves Lansdown Active Savings whete you can open accounts with several institutions all under Hargreaves’ log in?

Easy put £85k in each one.

lassfarfromhome

FIREDreamer said:

Have you looked at Hargreaves Lansdown Active Savings whete you can open accounts with several institutions all under Hargreaves’ log in?

Easy put £85k in each one.

Oh that sounds great, thanks.  I'll have a look

applepie1974

Hi , I hope you don’t mind me jumping in here and asking a question please . I’m on income protection a long time and have 16 yrs left before expiration. My employer and insurance company have both acknowledged that my return to my job is not on the cards due to my disability. A settlement suggestion has been mentioned. Do you have any idea based on your dealings what’s % or how they calculate an offer . Thank you